Share Market Highlights 5 August 2024: Sensex, Nifty plummet over 3% amid US recession fears; Nikkei plunges over 12%
Updated - August 28, 2024 at 05:37 AM.
Sensex, Nifty updates on 5 August 2024: Top gainers on the NSE as at 3 pm Britannia (1.23%), Hindustan Unilever (0.94%), Nestle India (0.75%), Tata Consumer Products (0.36%), HDFC Life (0.35%). Top losers include Tata Motors (-7.15%), Adani Ports (-5.92%), ONGC (-5.86%), Hindalco (-5.11%), Tata Steel (-5.03%)This decline reflects broader losses across Asian markets, with the Nikkei plummeting nearly 13% and other markets such as Korea, Taiwan, and Australia seeing declines between 2.5% and 7%. Analysts expect increased market volatility in India due to factors like the unwinding of the yen carry trade, geopolitical tensions, and a perceived slowdown in developed economies. Recent weak US job data and low inflation have heightened expectations for a Federal Reserve rate cut in September. Despite global pressures, analysts predict that Indian markets will consolidate as earnings align with high valuations. Key influences on market movements this week include the RBI’s interest rate decision, macroeconomic data, and global trends. Foreign Portfolio Investors (FPIs) have started August cautiously, selling ₹1,027 crore in equities following significant inflows in July. The Nikkei’s decline underscores the global context affecting Indian markets.
Stock Market Today | Share Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 05 August 2024.
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